Which of the Following Accounting Terms Assumes That a Business's

question 62

Multiple Choice

Which of the following accounting terms assumes that a business's activities can be divided into small segments and financial statements can be prepared for specific periods, such as a month, quarter, or year?

• A)adjusting entry concept
• B)revenue recognition principle
• C)matching principle
• D)time period concept

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Definitions:

Value-based Marketing

A marketing strategy focused on providing products or services that offer superior value to customers, aligning with their values and needs for lasting relationships.

Market-oriented

A business approach focusing on understanding and meeting the desires and needs of its customers through its product mix.

Sales-oriented

Pertains to a business approach focused primarily on sales volume as the chief measure of success, often at the expense of customer satisfaction or product quality.

Lifetime Profitability

Refers to the total net profit a company expects to earn over the entirety of its business relationship with a customer.